Quest Partners LLC Invests $203,000 in Public Service Enterprise Group Incorporated (NYSE:PEG)

Quest Partners LLC bought a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,751 shares of the utilities provider’s stock, valued at approximately $203,000.

Several other hedge funds have also modified their holdings of PEG. Bryn Mawr Capital Management LLC raised its holdings in Public Service Enterprise Group by 0.5% during the 2nd quarter. Bryn Mawr Capital Management LLC now owns 25,739 shares of the utilities provider’s stock worth $1,905,000 after buying an additional 135 shares during the period. Crestwood Advisors Group LLC lifted its position in shares of Public Service Enterprise Group by 4.1% in the 2nd quarter. Crestwood Advisors Group LLC now owns 3,853 shares of the utilities provider’s stock valued at $284,000 after acquiring an additional 153 shares in the last quarter. Evergreen Wealth Solutions LLC boosted its stake in Public Service Enterprise Group by 1.7% in the 1st quarter. Evergreen Wealth Solutions LLC now owns 9,697 shares of the utilities provider’s stock worth $648,000 after purchasing an additional 159 shares during the period. KCM Investment Advisors LLC grew its position in Public Service Enterprise Group by 0.3% during the 2nd quarter. KCM Investment Advisors LLC now owns 67,327 shares of the utilities provider’s stock worth $4,962,000 after purchasing an additional 180 shares in the last quarter. Finally, PDS Planning Inc raised its stake in Public Service Enterprise Group by 4.2% during the 1st quarter. PDS Planning Inc now owns 4,530 shares of the utilities provider’s stock valued at $303,000 after purchasing an additional 181 shares during the period. 73.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PEG has been the topic of a number of research analyst reports. Royal Bank of Canada upped their price target on Public Service Enterprise Group from $80.00 to $84.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Jefferies Financial Group assumed coverage on shares of Public Service Enterprise Group in a research report on Friday. They issued a “hold” rating and a $85.00 price target for the company. LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. Scotiabank increased their target price on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Finally, Bank of America boosted their price target on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus target price of $77.92.

Public Service Enterprise Group Trading Up 1.0 %

Shares of PEG stock opened at $84.16 on Monday. Public Service Enterprise Group Incorporated has a 12 month low of $53.71 and a 12 month high of $84.18. The company has a market cap of $41.93 billion, a PE ratio of 23.31, a price-to-earnings-growth ratio of 2.99 and a beta of 0.60. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.16. The business’s 50 day moving average is $78.81 and its two-hundred day moving average is $72.92.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.01). Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the business earned $0.70 EPS. The business’s revenue was up .1% compared to the same quarter last year. Equities analysts predict that Public Service Enterprise Group Incorporated will post 3.68 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend is Monday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 66.48%.

Insiders Place Their Bets

In other news, EVP Tamara Louise Linde sold 19,127 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $80.26, for a total value of $1,535,133.02. Following the completion of the sale, the executive vice president now directly owns 67,524 shares of the company’s stock, valued at $5,419,476.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total transaction of $111,190.82. Following the transaction, the chief executive officer now directly owns 148,892 shares in the company, valued at $12,014,095.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Tamara Louise Linde sold 19,127 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $80.26, for a total value of $1,535,133.02. Following the completion of the transaction, the executive vice president now directly owns 67,524 shares of the company’s stock, valued at approximately $5,419,476.24. The disclosure for this sale can be found here. Insiders have sold a total of 30,068 shares of company stock valued at $2,406,965 in the last three months. Company insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.